A former Tesco distribution centre in Chepstow has been let to logistics firm CM Downton in one of the largest industrial deals of the year in Wales.
Property consultancy JLL advised Tesco on the transaction, which sees the retailer sub-let the 282,297 sq ft property to CM Downton on a four year lease until 2021.
The warehouse is part of Newhouse Farm Distribution Centre, which consists of 15 industrial units, and other high profile occupiers include Bidvest, Bond International and ASDA. It is located immediately south of Junction 2 of the M48.
Heather Lawrence, senior surveyor at JLL, said: “This is certainly one of the largest industrial buildings in South Wales and it’s fantastic to have this building back in use again. The estate has always been popular but has become even more so in recent months, possibly as a result of the reduced Severn Bridge tolls which come into force in January.
“It’s also in a good location as it offers excellent access into Wales as well as the north of England via the A48 to the M5.”
The property was built for Tesco in 1988 but the company vacated it in 2009 when it moved its regional distribution facility to Avonmouth.
